In 2023, the import value of rosin and resin acids to the US stood at $55.647 million. Over the forecast period of 2024 to 2028, a downward trend is observed. Year-on-year percentage changes indicate a steady decrease: 2024 sees a contraction to $54.827 million, a nearly 1.5% reduction from 2023. By 2025, imports decline further, dropping approximately 1.5% per annum on average, culminating in a compounded annual growth rate (CAGR) of about -1.8% over the five-year period.
Future trends to watch for:
Potential fluctuations in the import market due to economic conditions or policy changes.
Shifts in demand from industries utilizing these materials and their impact on import volumes.
Emergence of substitute products that may alter market dynamics significantly.